News: MCA Seeks To Abolish RPGT For Properties Sold After Five Years

Sep 10, 2019

MCA wants to have the real property gains tax (RPGT) abolished for properties disposed after five years, believing that those who purchased properties a long time ago could not have done it for speculative purposes.

Party president Datuk Seri Dr Wee Ka Siong said those who inherited properties should not also be made liable for the RPGT if they want to dispose of them now.

“Take a farmer from Bentong, for example, who inherited 10 acres from his father who may have bought the property cheap more than 50 years ago,” he said, reported The Star.